Capesize freight rates rallied further on market optimism over better shipping demand and fundamentals in both basins. The Capesize 5 time charter average then rose by $1,925 day-on-day to $28,056 on Thursday, due to booming paper market. The Baltic Dry Index (BDI) also rose further by 6.66% or 145 points to 2,323 readings, supported by …
Author archives: Titus Zheng Shujian
Daily DCE Review 15/4/21
Iron ore futures rebounded from previous losses and rallied further, due to lower steel inventory and market talks of ramping up steel output. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then surged up by 3.56% day-on-day or up RMB 36 to RMB 1,048.50/mt on Thursday. The steel rebar …
Daily Capesize Review 14/4/21
Capesize freight rates continued to rise despite mixed market movement between the paper and physical market. The paper market was pushing for greater height, while the physical market took a breather from flurry of fixtures done previously. The Baltic Dry Index (BDI) also rallied by 1.78% or 38 points to 2,178 readings, due to record-high …
Daily DCE Review 14/4/21
Iron ore futures dipped after recent rally, due to market concerns over high materials costs that reduced steel margins. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then fell slightly by 0.39% day-on-day or up RMB 4 to RMB 1,011.50/mt on Wednesday. The steel rebar contract on the Shanghai …
Daily Capesize Review 13/4/21
Capesize freight rates rose on strong physical fixtures in both basins, despite some weakening in the FFA market. The Capesize 5 time charter average then inched up slightly by $79 day-on-day to $26,055 on Tuesday, after some profit-takings in paper market. The Baltic Dry Index (BDI) however, dipped on softening smaller vessels rates and went …
Daily DCE Review 13/4/21
Iron ore futures continued to rally on lower import volumes from Australian and Brazilian miners, amid high steel demand in China. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), for September delivery then rose by 3.28% day-on-day or up RMB 32.50 to RMB 1,022/mt on Tuesday. The steel rebar contract on the …
Daily Capesize Review 12/4/21
Capesize freight rates rose on bullish market outlook, with firm physical market supported by slight uptick in bunker prices. The Capesize 5 time charter average then rose by $2,065 day-on-day to $25,976 on Monday, as traders hurried to short cover at the start of the week. The Baltic Dry Index (BDI) also hiked up on …
Daily DCE Review 12/4/21
Iron ore futures opened low, before a late rally toward the afternoon trading session that pushed up rates higher. The most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE), then rose by 2.58% day-on-day or up RMB 25.50 to RMB 1,014/mt on Monday. The steel rebar contract on the Shanghai Futures Exchange, however dropped …
Daily Capesize Review 9/4/21
Capesize freight rates rallied on better shipping demand, especially with more cargoes coming from the Atlantic market. The Capesize 5 time charter average then rose by $1,037 day-on-day to $23,911 on Friday, due to market optimism for Forward Freight Agreement (FFA). The Baltic Dry Index (BDI), however, dipped slightly after recent rally and went down …
Ferrous trade weekly review 9/4/21
A total of 0.66 million mt of iron ores was traded for the week ended Apr 9, after trade participants returned from the long weekend holidays. Steel prices rose to multi-years high during the week amid high margins and output restrictions that extended beyond China’s steelmaking hub of Tangshan. During the week, the trades volume …